I signed a contract for sale on an investment property on the 8th June 2024 (I.E. CGT event to be declared in 2023-2024 tax return) with settlement occurring 9th July 2024.
My final monthly rental expense was incurred on the 1st July 2024. Do I therefore not claim this rental expense as a deduction until the 2024-2025 tax year?
My final monthly rental expense was incurred on the 1st July 2024. Do I therefore not claim this rental expense as a deduction until the 2024-2025 tax year?
Income & expenses after 30/06/2024 belong in 2025 tax year.
Capital items belong to the CGT date, even if incurred after 30/06/2024.
My final monthly rental expense was incurred on the 1st July 2024. Do I therefore not claim this rental expense as a deduction until the 2024-2025 tax year?
Income & expenses after 30/06/2024 belong in 2025 tax year.
Capital items belong to the CGT date, even if incurred after 30/06/2024.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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